All Property Week articles in 22 May 2009 – Page 2
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B&B misses payments
Bradford & Bingley, the bank bailed out by the taxpayer last year, has revealed it will not pay the interest due on £325m of subordinated bonds, raising questions over whether other Government-owned banks may do the same.
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Max raises £280m
Max Property the new property company backed by Nick Leslau, the entrepreneur, and Och-Ziff, the hedge fund, has completed a £220 million fundraising. A further £25 million has been invested by the management team, with Och-Ziff putting in £35 million.
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Aviva Trust sells banks
Aviva Investors Property Trust: The property investment trust said that it has sold two retail parks — in Plymouth and Taunton — for a total of £35.3m.
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Mortgage lending at eight year low
Net mortgage lending hit the lowest level in eight years during April while savings growth remained subdued. Net lending was £2.7bn in the month, much lower than the six-month average of £3.4bn. The number of loans approved for house purchase rose to 27,685 in April, from 26,671 in March.
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Debt-hit Jessops under threat
Jessops warned investors that its shares could soon be worthless as the camera retailer looked to secure its survival through a debt restructuring plan.
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Abu Dhabi tycoon set to buy Pompey
Portsmouth is set to become the latest English football club to have a wealthy Arab owner, it emerged last night.
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Southampton green-light for 25-storey hotel and flats
Southampton City Council has approved planning permission for what would be one of the city centre’s tallest building.
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US development bigwig gets Olympic Legacy top job
The London Development Agency has appointed Andrew Altman – Philadelphia’s deputy mayor and a ‘big hitter’ in urban development in the US – as the chief executive of the 2012 Olympics legacy delivery company.
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Maximus gets fired up for £175m scheme in Derbyshire
Maximus, the Worcestershire-based developer, has got the green light for a major £175m regeneration scheme on a former coal mine in Derbyshire.
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OnlineDesigners Hemingway launch pop-up shop
Designers Wayne and Gerardine Hemingway MBE have launched a new pop up shop – a temporary shop - outside the Mayor’s City Hall in London.
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EPRA moves to Brussels
The European Public Real Estate Association (EPRA), which represents the interests of the listed property sector in Europe, is moving from Amsterdam to Brussels.
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Next to expand in Woking
UK fashion and homewares retailer Next is to double its presence at Peacocks Shopping Centre in Woking.
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Aberdeen Property Investors wins €1.4bn management tender
Aberdeen Property Investors has won a tender to manage assets worth €1.4 billion for insurance company Gamla SEB Trygg Liv, a part of Sweden’s SEB bank.
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Regenerated areas could fall into decline, warns BPF
Areas regenerated in the last 15 years could fall into decline if new regeneration funding methods are not adopted, the British Property Federation has warned.
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East Manchester site to be developed with NWDA grant
The Northwest Regional Development Agency (NWDA) has awarded £3.6m to a Manchester regeneration company to buy and redevelop a contaminated site in Openshaw.
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EPCs should be scrapped, says assessor
A government-accredited Energy Performance Certificate (EPC) assessor has said the system should be improved or scrapped.
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OnlineMORNING AFTER: 1st Friday and Young Entrepreneurs in Property London breakfast debate
Over 130 guests attended the 1st Friday and Young Entrepreneurs in Property (YEP) London breakfast debate, entitled ‘Boom or Bust: The way forward and challenges facing the Homes and Communities Agency’, on Friday 22 May.
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OnlineLeslau’s Max lists on AIM having raised £220m
Max Property Group, Nick Leslau’s Jersey-incorporated closed-ended property investment company, has today announced the completion of fund raising and its admission to trading on AIM.
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Telford Homes posts profit and expresses ‘cautious optimism’ for future
East and North London residential developer Telford Homes posted a £4.3m profit today but suspended a dividend payment to focus on ‘controlling cash’.
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Japanese REITS market down 65% on year
Investment in securitised products based on property deals plunged 65.4% in fiscal 2008 as the real estate market got crunched by the global financial crisis, the government said Tuesday.
